Report Description

The Saudi Arabia EPC Power Market is anticipated to grow at a steady CAGR during the forecast period of 2024-2028. Power Engineering, Procurement, and Construction (EPC) contracts are used in the creation of electricity from a variety of sources, including renewable and non-renewable raw resources. EPC contracts are turnkey contracts in which an external consultant or contractor is responsible for creating the needed units as per client specifications, from the early phase of development through the fabrication of the completed facility, ready for operation. These facilities differ from build-to-order units, which are tailored according to the needs of the client and may be customised. In EPC contracts, however, the contractor is responsible for the whole project development when the contract is signed, and it is only after the project is done that it is handed over to the customer. Population growth and urbanisation has increased power consumption. Furthermore, global industrial expansion has increased demand for power. As a result, substantial investments are being made in the global power engineering, procurement, and construction (EPC) sector.

Saudi Arabia's government is promoting private enterprises and international investment to help it reduce its economic shortfalls. If the government works to liberalise the power industry, local and foreign private investors will be allowed to invest in the country, relieving pressure on government-owned power companies. The Saudi Arabia power EPC market is expected to profit in the near future as a result of the privatisation of the power industry..

Expanding contractual firms to drive market expansion.

The Global Power EPC Market is expected to expand due to increased investment in creating facilities that use renewable sources of energy and the continuous need for non-renewable sources of energy, which were previously solely responsible for a large part of power generating. Growing digitization and increased reliance on power-powered gadgets in healthcare, building construction, food and textiles, and other critical industries are driving the demand for consistent energy supply. The rising population of almost 7 billion people is a key factor to the growth in energy consumption EPC contracts are favoured over other types of facility building because they use contractors' knowledge to create a unit that allows for more efficient production as compared to a firm that lacks the requisite resources. Saudi Arabia is producing a sizable amount of EPC POWER, driving growth in the EPC POWER market. EPC contractors produce better results and are more preferred for large-scale investments because they are aware of the best in the market subcontractors, raw material vendors, and cost-effective procurement channels.

Increasing focus on renewable energy

Saudi Arabia has set ambitious targets for renewable energy, with the goal of generating 50% of its electricity from renewable sources by 2030. This has led to a significant increase in investment in renewable energy projects, such as solar and wind power, which are being developed through EPC contracts.

Government support and initiatives

The Saudi government has introduced several initiatives to support the growth of the power sector, including the National Transformation Plan, which aims to increase the share of renewable energy in the country's power mix. The government is also providing incentives for private sector investment in the power sector, such as tax exemptions and subsidies.


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Market Segments

Saudi Arabia EPC Power Market is divided based on Type and Component, Based on Type, the market is further bifurcated into Thermal, Oil & Gas, Renewable, Nuclear, and Others. Based on Component, the market is divided into Engineering Design, Procurement, and Construct. The Saudi Arabia EPC Power Market stood at USD XX Million in 2022 and is expected to register a steady CAGR during the forecast period.

 

Market Players

Major market players of Saudi Arabia EPC Power Market are Doosan Heavy Industries Construction Co. Ltd, National Contracting Company Limited, Power Construction Corporation of Chn Ltd, Larsen & Toubro Limited, Electrical & Power Contracting Co. Ltd, Mahindra Group, IVRCL Infrastructures & Projects Ltd., Ammico International Contracting Co. Ltd, Abdulrahman Alrabiah & Sons Group, and Saipem Taqa Al-Rushaid Fabricators Company Ltd.

Recent Developments

In April 2021, Larsen & Toubro's (L&T) Power Transmission & Distribution Business has announced that it has secured a turnkey EPC Contract for the Sudair Solar PV Project from a consortium of ACWA Power and the Water and Electricity Holding Company (a subsidiary of the Public Investments Fund of Saudi Arabia (PIF)).


Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Type

Component

Regional scope

Western Region, Northern & Central Region, Eastern Region, Southern Region

Key companies profiled

Doosan Heavy Industries Construction Co Ltd, National Contracting Company Limited, Power Construction Corporation of Chn Ltd, Larsen & Toubro Limited, Electrical & Power Contracting Co. Ltd, Mahindra Group, IVRCL Infrastructures & Projects Ltd, McDermott Arabia Company Limited, SAIPEM TAQA AL-RUSHAID FABRICATORS COMPANY LTD, ABDULRAHMAN ALRABIAH & SONS GROUP, Ammico International Contracting Co. Ltd

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Saudi Arabia EPC POWER Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

            ·       Saudi Arabia EPC POWER Market, By Type:

o   Thermal  

o   Oil & Gas,

o    Renewable

o   Nuclear

o   Others

  • Saudi Arabia EPC POWER Market, By Component:

o   Engineering Design

o   Procurement

o   Construct

            ·     Saudi Arabia EPC POWER Market, By Region:

o    Western Region

o    Northern & Central Region

o    Eastern Region

o    Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia EPC POWER Market.

Available Customizations:

Saudi Arabia EPC POWER with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Saudi Arabia EPC POWER Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia EPC POWER Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Selecting Vendor

5.3.  Key Satisfaction Level

5.4.  Major Challenges Faced

5.5.  Technological Awareness

6.    Saudi Arabia EPC POWER Market Outlook

6.1.  Market Size & Forecast

6.1.1.   By Value

6.2.  Market Share & Forecast

6.2.1.   By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others)

6.2.2.   By Component (Engineering Design, Procurement, Construct)

6.2.3.   By Region

6.3.  Market Map

7.    Western Region EPC POWER Market Outlook

7.1.  Market Size & Forecast

7.1.1.   By Value

7.2.  Market Share & Forecast

7.2.1.   By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others)

7.2.2.   By Component (Engineering Design, Procurement, Construct)

8.    Northern & Central Region EPC POWER Market Outlook

8.1.  Market Size & Forecast

8.1.1.   By Value

8.2.  Market Share & Forecast

8.2.1.   By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others)

8.2.2.   By Component (Engineering Design, Procurement, Construct)

9.    Eastern Region EPC POWER Market Outlook

9.1.  Market Size & Forecast

9.1.1.   By Value

9.2.  Market Share & Forecast

9.2.1.   By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others)

9.2.2.   By Component (Engineering Design, Procurement, Construct)

10. Southern Region EPC POWER Market Outlook

10.1.               Market Size & Forecast

10.1.1. By Value

10.2.               Market Share & Forecast

10.2.1.By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others)

10.2.2.By Component (Engineering Design, Procurement, Construct)

11. Market Dynamics

11.1.  Drivers

11.1.1. Global increase in power demand

11.1.2.Gas turbine advances, renewable energy, and digital technologies are expected to stimulate investments in the worldwide power generating business.

11.1.3.Reduce the use of natural gas and oil in electricity generation.

11.2.  Challenges

11.2.1.Government restrictions over usage of EPC Power

11.2.2. Unstable geopolitics of the region.

12. Market Trends & Developments

12.1.  increasing the use of technological processes

12.2.  Increasing diversification of energy sources away from oil and gas is expected to boost the market over the projected period.

12.3.  rapid industrialization

13. Industry Attractiveness - Porter's Five Force Analysis

13.1.  Bargaining Power of Suppliers

13.2.  Bargaining Power of Buyers/Consumers

13.3.  Threat of New Entrants

13.4.  Threat of Substitute Products

13.5.  Intensity of Competitive Rivalry

14. Policy & Regulatory Landscape

15. Saudi Arabia Economic Profile

16. Company Profiles

16.1.  Doosan Heavy Industries Construction Co Ltd

16.1.1. Business Overview

16.1.2. Key Revenue and Financials (If available)

16.1.3. Recent Developments

16.1.4. Key Personnel

16.1.5. Key Product/Services

16.2.   National Contracting Company Limited.

16.2.1. Business Overview

16.2.2. Key Revenue and Financials (If available)

16.2.3. Recent Developments

16.2.4. Key Personnel

16.2.5. Key Product/Services

16.3. Power Construction Corporation of Chn Ltd

16.3.1. Business Overview

16.3.2. Key Revenue and Financials (If available)

16.3.3. Recent Developments

16.3.4. Key Personnel

16.3.5. Key Product/Services

16.4. Larsen & Toubro Limited 

16.4.1. Business Overview

16.4.2. Key Revenue and Financials (If available)

16.4.3. Recent Developments

16.4.4. Key Personnel

16.4.5. Key Product/Services

16.5. Electrical & Power Contracting Co. Ltd

16.5.1. Business Overview

16.5.2. Key Revenue and Financials (If available)

16.5.3. Recent Developments

16.5.4. Key Personnel

16.5.5. Key Product/Services

16.6. IVRCL Infrastructures & Projects Ltd

16.6.1. Business Overview

16.6.2. Key Revenue and Financials (If available)

16.6.3. Recent Developments

16.6.4. Key Personnel

16.6.5. Key Product/Services

16.7.  McDermott Arabia Company Limited

16.7.1. Business Overview

16.7.2. Key Revenue and Financials (If available)

16.7.3. Recent Developments

16.7.4. Key Personnel

16.7.5. Key Product/Services

16.8.  SAIPEM TAQA AL-RUSHAID FABRICATORS COMPANY LTD

16.8.1. Business Overview

16.8.2. Key Revenue and Financials (If available)

16.8.3. Recent Developments

16.8.4. Key Personnel

16.8.5. Key Product/Services

16.9.  ABDULRAHMAN ALRABIAH & SONS GROUP

16.9.1. Business Overview

16.9.2. Key Revenue and Financials (If available)

16.9.3. Recent Developments

16.9.4. Key Personnel

16.9.5. Key Product/Services

16.10.  Ammico International Contracting Co. Ltd

16.10.1. Business Overview

16.10.2. Key Revenue and Financials (If available)

16.10.3. Recent Developments

16.10.4. Key Personnel

16.10.5. Key Product/Services

16.11.  Mahindra Group

16.11.1. Business Overview

16.11.2. Key Revenue and Financials (If available)

16.11.3. Recent Developments

16.11.4. Key Personnel

16.11.5. Key Product/Services

17. Strategic Recommendations

1.1.     The key focus should be on top cities of all regions.

1.2.     The key focus should be EPC Power plant.

18. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Major market players in Saudi Arabia EPC Power Market are Doosan Heavy Industries Construction Co Ltd, National Contracting Company Limited, Power Construction Corporation of Chn Ltd, Larsen & Toubro Limited, Electrical & Power Contracting Co. Ltd, IVRCL Infrastructures & Projects Ltd, McDermott Arabia Company Limited, SAIPEM TAQA AL-RUSHAID FABRICATORS COMPANY LTD, ABDULRAHMAN ALRABIAH & SONS GROUP, Ammico International Contracting Co. Ltd.

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Driven by the government's commitment to renewable energy, the development of mega-projects, and the favorable regulatory environment are the major factors of Saudi Arabia EPC Power Market.

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The Western Region is the fastest growing region in the Saudi Arabia EPC Power Market.

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An "Engineering, Procurement, and Construction" (EPC) project is a type of contracting arrangement used in industries under which the EPC-Contractor is made responsible for all activities ranging from design, procurement, and construction to commissioning and handover of deliverables to the Owner or Operator (O/O).

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Parvati Sharma

Account Manager BD
Press Release

Saudi Arabia EPC Power market is expected to register a steady CAGR during the forecast period 2024-2028

Mar, 2023

Saudi Arabia EPC power market is being driven by a combination of government support, favorable regulations, and increasing demand for electricity, both from traditional and renewable sources